Warsh Signals Rate Hikes Possible as Inflation Persists

Federal Reserve Chairman Kevin Warsh signaled possible interest rate hikes if inflation persists in the US. Speaking at the Fed's Jackson Hole economic symposium, Warsh emphasized that policymakers must see clear progress toward their two percent inflation target.

'We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed,' Warsh said. 'Otherwise, we have work to do.'

Markets reacted by raising bets on a rate hike next month, while global central bankers applauded Warsh's comments.